Cytosorbents (NASDAQ:CTSO) Issues Earnings Results

Cytosorbents (NASDAQ:CTSO) released its earnings results on Wednesday. The medical research company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01), FiscalAI reports. The firm had revenue of $9.23 million for the quarter, compared to the consensus estimate of $9.22 million. Cytosorbents had a negative return on equity of 101.14% and a negative net margin of 27.77%.

Cytosorbents Price Performance

CTSO traded down $0.02 during trading on Wednesday, reaching $0.67. 60,601 shares of the company traded hands, compared to its average volume of 78,717. The company has a market cap of $42.16 million, a P/E ratio of -3.73 and a beta of 1.36. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.71 and a current ratio of 2.11. Cytosorbents has a 12-month low of $0.60 and a 12-month high of $1.39. The firm has a fifty day simple moving average of $0.69 and a 200 day simple moving average of $0.76.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Cytosorbents in a research report on Friday, January 9th. D. Boral Capital reaffirmed a “buy” rating and issued a $10.00 target price on shares of Cytosorbents in a report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.38.

Hedge Funds Weigh In On Cytosorbents

Institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC increased its holdings in Cytosorbents by 127.3% in the 3rd quarter. Citadel Advisors LLC now owns 65,690 shares of the medical research company’s stock valued at $61,000 after acquiring an additional 36,790 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Cytosorbents by 149.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 62,662 shares of the medical research company’s stock valued at $63,000 after purchasing an additional 37,519 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Cytosorbents during the third quarter valued at about $161,000. Vanguard Group Inc. grew its position in shares of Cytosorbents by 3.7% during the third quarter. Vanguard Group Inc. now owns 2,204,294 shares of the medical research company’s stock valued at $2,059,000 after purchasing an additional 79,535 shares in the last quarter. Finally, Avenir Corp increased its holdings in shares of Cytosorbents by 2.9% in the fourth quarter. Avenir Corp now owns 5,230,099 shares of the medical research company’s stock worth $3,343,000 after purchasing an additional 147,261 shares during the last quarter. 32.87% of the stock is owned by hedge funds and other institutional investors.

Cytosorbents Company Profile

Cytosorbents Corporation, founded in 2011 and headquartered in Princeton, New Jersey, is a medical device company focused on critical care and extracorporeal blood purification. The company’s flagship product, CytoSorb, is a hemoadsorption cartridge designed to remove excessive inflammatory mediators such as cytokines, bilirubin and myoglobin from a patient’s blood. By targeting the molecular drivers of hyperinflammation, CytoSorb is intended to stabilize patients undergoing septic shock, cardiac surgery, trauma and organ failure.

CytoSorb has secured regulatory clearance in Europe (CE mark) and is available in more than 65 countries, with a growing presence in Asia, the Middle East and Latin America.